Condominium Lending

In the Condominium Management Industry we are always looking for the best services and pricing for our clients. With so many communities facing the challenges of replacing large scale capital property components, the financial stress of how to cover the costs of those projects begins to set it.  In some cases assessments and the use of existing reserves is a preferred option.  But what if those options are not available? What if the project arises earlier than predicted due to premature failure?  This is where South Shore Bank is able to help provide communities the funding needed today and the option to reduce the financial impact to owners by spreading the repayment over time.  Mercantile Property Management has been working with South Shore Bank, in particular Daniel Picha and Christopher Walker, producing these alternative options for many of our clients for the last several years.  Dan and Chris’ attention to client needs, understanding of project necessity and development, and financial planning have been a major asset to both our clients and to my staff as we work to develop the most cost effective and financially feasible plans for each community.  The loan process from start to finish is fluid, well documented,  prompt, and clearly explained to clients.  No questions go unanswered. - Ryan J. McGowan, CMCA^®, President, Mercantile Property Management